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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (4668)	3/6/2008 5:51:50 PM
From: The Wharf	Read Replies (2) \| Respond to of 71452

My opinion is house explosion was world wide and that placed a great deal of demand on building products prices there of all cost went up. The high boom end has slowed or started to slow world wide. That could give a bit of relief to cost of building products. Everything around me was totally exaggerated house prices tripled and in some cases quadrupled but wages for most did not. People got mortgages without having an income source. The sale of the house they bought provided the income and the next house was suppose to be the next source of income until it all went sour. During that period people in construction commanded very high wages. It impossible to project a double on anything in this area as equity build up in the house just wasn't there if you tied it to wages. Ironically property in high cost areas has continued to increase. I suppose can answer that with you can lay off lower end workers but you do not lay off yourself. I too have thought about buying a bit out from where i live so I looked at wages in the area 2006 had an average of $100.000 per family i uped it 10%. I checked out employment then I tripled the value of houses to max old mortgage standard and houses here are still way over priced. I can see the per square foot value you see but it is the wages of the surrounding area that will set the price of the house. The banks have to get their act together before they Bk the nation.